St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-12-15
The COMMERCIAL RECORD,
There Was Good Buying, Both Of Wheat
and Corn On tie Chicago Board
Early Yesterday.
Tie Firmness Was Followed By Break
Which Created Considerable
Excitement.
Transactions IN The Financial Circles
OF Wall Street.-The General
Quotations.
Special to the Globe.

Special to the Globe.
CHICAGO, Dec. 14-Provisions and corn
opened weak with scattering selling by
longs but at the beginning there was no
especial pressure to break the market. May
corn sold off sharply from 53I2052I2c. May
pork declined the first hour from $500 TO
Bis; March lard from S7.S7i2 to $3.50, and
May ribs went off to $40. Wheat began at
82ssc for May. advanced to S27sc on buying
by Hutchinfon and covering by Shorts. The
market then worked back to S2Isc, but raj
ried strongly later. During the past week an
enormous quantity of wheat has been I'M
loaded here, and from being an over-bought
market its rapidly getting in the dangerous
position of an oversold market The
altered condition of affairs is patent
week ago four Or five traders said the market
had no top, 10 they are inclined to believe
shat it has now bottom, on the decline in corn
and wheat good many stop orders were
struck, and large amount of stuff came on
the market.
TIE HARD HITTERs
have been cunning for stop order grain for
several days They thought they had the
markets on the run to-day, and for a time
they had. but the decline also brought out
large buying orders that were resting quietly
in the pockets of commission merchants, and
the break suddenly checked at about the
range mentioned above. The scalpers turned
about face and hastened to cover their short
sales. May corn firmer, 53$sc, and May
wheat S27sc, a recovery in both cereals of
nearly 1c The markets were very active,
though perhaps not as broad as the bulls
would like 10 see On the break it was given
ont that the Blooms were slipping out of
their holdings of grain and provisions. They
were only playing the other side, hOwever,and
while Moses went about scattering tips TO buy
with a prodigal tongue, Leopold was bluffing;
he bluffed in the corn pit and the provision
pit he vocifcrously bid for pork in 10000
barrel lots. January pork was his weakness,
but it was noticed that for the noise he made
he secured very little pork if he did not sell
heavy of everything through brokers then
the men who know him best are nigh lily
mistaken. At l o'clock the range of prices
of grain shows slight gain in wheat and a
slight loss in corn as compared with yester-
day closing figures. The loss resulting from
the break iii the first half of the session was
more than made up in wheat, and nearly SO
in corn It's difficult to arrive at a correct
understanding of the provision market.
Packers almost TO man predict lower prices,
buJ values hold with astonishing stubborn
ness. The sentiment of the pit is bearish.
but commission merchants continue to buy
steadily for country account, and values re-
cover after every break. Closings to-day
mark little shrinkage in the general list,
though.
THE ROUTINE REPORT.
Chicago. Dee 14-BefOre business began
OH change to-day prodi tions of lower prices
Il.
made May wheat opened at S2Ssc, decline
from last nights close of ls0 l4c. There was
good buying from various sources at this
price, and May tirmed 10 S25sc in less than
ten minutes. The buying was mostly by nu-
mer0Hs sharp ScalperS who sold short yeSter-
day and took advantage Of the early weak
ness to even up traces. In corn the May fu-
lure opened at 53Ioc, with sales in the pit at
the same time at 53c. There was an uneX-
pected good demand for stuff at 53c, and ten
minutes later May was up to 53$sc, which
was its closing figures yesterday. May pork
opened unchanged, ut Sl5.25. Heavy early
purchases of corn by two prominent local
operators advanced May to 53l2c in the first
half ECur. The break at 1890 landed May
porn mt 52l2c May o k broke from So. % to
Ei5-03. An hour after the opening May
sold at SO and was weak al that. The break
continued and May wheat went down to S2Gl
S2lsc The lowest prices Of the morning
were reached by both corn and wheat on the
May wheat get down to S2GS2Isc. There
Was so much excitement and 50 much selling
when prices got down to this figure that the
crowd found itself short before II knew it. 4
few attempts TO even up made the crowd
quite nervous and values reacted. Before
noon May wheat was back TO S3c, and for Il
long time ii held moderately steady around
S27S@S3c.
May corn got down t. 51l2c on the break
and il reacted on covering DIV nervous shorts
o lGrp ny
heavy sales by Detroit plunger. The pack
eTS flooded the corn pit, also, Just before the
break and helped the decline, for its intlu-
ence Oh provisions. At 1870 May corn was
reasonably steady around 533sc. but the
crowd was still nervous Provisions were
featureless. Any little demand would firm
prices up trifie, but they would drop off of
themselves when the demand was with
drawn. May did not sell below SIS during
the morning. All the afternoon markets
were higher. being largely influenced by
corn III which there was free covering by
shorts. May corn advanced TO 53l2c.
THE QUOTATIONS..
The leading futures ranged as follows:
Wheat No.2-JanuaTy, 15sSc, closing at zoe;
February, 76Ac, closing al T6i4c; March,
77Isc, closing at 77$sc; May, S25sc. closing
at S3c. Corn-No. = December, 47l2c, clos
ing at 47I8c; January, 47s4c. closing at
May, 53Isc, closing at 53Ssc Oats-No. ,
December, 30I2c; january, 2978c; May, 327sc,
closing at 33S8c. Mess Pork per bbl-Janu-
airy, SLIGO. closing at S1470; February,
$14.72I2, closing at $14S5: May, S15.25,
closing at Sl5.25. Lard per 100 lbs-January,
STATE, closingat $3.50; February. S7.5!I2c,
closing at S7.60c; March. $3.50, closing at
$40; May, S7.S7I2, closing at S7.S5.
Short Ribs per 1O1 lbs-January, s7.52l2,
closing at $3.50: February. S7.62l2. closing
ct S7.60; March, S7.72l2. closing at S7.72I2;
May, S7.95, closing at ST.92I2.
Cash quotations were as follows: Flour
Duh and prices nominally unchanged.
Wheat-No. = spring, 752S075l2c; No. 8
spring. 64Q66c; No. red, 77c. Corn-No.
Q, 47l2c. 0ats--No. 2, 30Q304c. Rye
No. 2, 61l2c. Barley-No. 2, 72@76c Flax
Seed-No. 1. S1.24. Timothy Seed-Prime,
81. &c. Mess pork, per Dbl, 14.25@14.50.
Lard. per 100 lbs> S7.37l2@l7. 40. Short ribs
rides Qoose), S7.4517.5O. Dry sailed Shout
ders (boXed), 50 .S0Gl5. 80. Short clear sides
(boxed), S7.S0G7.S5. Whisky-Distillers'
finished goods. per gal. Sl.10. Receipts
Flour, 49, 900 b5ls; wheat, $4,000 bu: corn,
269, 000bu; oats, 81 900 bu; rye, 5000 bu;
barley, "a coo bU. Shipments-Flour, Al .OO0
bhls; wheat. $4,000 bu; corn, $4,000 bu;
oats. 9S, 900 bu; rye, $500 bu; barley, g.
600 bu. On the produce exchange to-day the
butter market was quiet; extra creamery.
28@29c; fancy dairy. 24025c. Eggs. 20
@2lc.